Try to leave them and the problems start!
Written: Jun 20 '03
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Pros: Great customer service as long as you wish to keep your mortgage with them.
Cons: Don't try to move loan elsewhere.
The Bottom Line: Great service as long as you don't try to leave them.
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| gopherm's Full Review: Countrywide |
We have been with Countrywide since 1997 and have been very happy with their services. We have refinanced with them once during that time and also have a HELOC with them. Our problems didn't begin until we recently decided to take advantage of the dramatic drop in interest rates. We checked the on-line rates with Countrywide and they were well above what we saw advertised in the local news papers. After contacting a local mortgage broker and getting what seemed like a fantastic rate as well as receiving the good faith estimate of closing costs, we phoned Countrywide to see if they would compete to retain our business. No luck...good bye.
Since we were happy with the service we had received over the years we decided to keep our HELOC with Countrywide but would move our first mortgage to the company providing the best interest rate. This required getting a loan subordination on the HELOC. After contacting the subordination department at Countrywide and receiving a blurry fax with all the instructions of what was required ($100 processing fee plus $50 for FEDEX services to and from Countrywide) I was told it would only take about 10-15 days to complete the process. Unable to clearly read everything on the fax they provided I neglected to provide a title report with my original application. The law firm we are using for closing quickly faxed the necessary documentation to Countrywide and attempted to call and confirm that it had been received. The law office was told that they were not allowed to speak with the subordination representative so there was no way to confirm that the title report had been received. Both the law office and the mortgage broker attempted to call the Countrywide Customer Service department and the subordination department on several occasions and each contact resulted in rudeness and incorrect or no information being made available to the inquiries. I followed up with emails to the customer service site, providing my name, address, and account numbers. This resulted in being told that Countrywide could not identify me from the account information I had provided. I followed up by resending my original email and by cutting and pasting the monthly statement pages from the Countrywide online site to prove I did have active accounts. Two days later I received a cheerful return email notifying me how happy they were to respond to my inquiry, however, all questions pertaining to subordination of loans must be directed to the Loan Subordination Department and that after leaving voice mail they would contact me within 72 hours.
45 days have now passed and my most recent contact has been another phone call from Countrywide notifying me that they had still not received a title report from me and that the process could not be concluded without that document. My law firm confirmed that the title report was faxed to them over a month ago and that it was a current report.
With no other recourse and facing the potential of rising interest rates, we have been forced to move both the 1st mortgage and the HELOC to another company. None of this would not upset me as much if it had not been for the fact that phone calls from my mortgage broker, law firm and me were all ignored as were my emails. Countrywide placed the blame for the delay on me for not providing information which they have possessed for over a month.
The HELOC would have been in effect for the next 20 years and they would have continued to draw interest on the balance that I carried as well as any future draws against that loan. Now they will receive nothing except my bad report on their performance along with the $100 processing fee which they will not refund.
Good bye Countrywide...you need to send you customer support representatives and everyone you employ that has contact with your customers or their agents to charm school. This has not been a good lesson on how to treat people...especially people that you are making so much money from.
Recommended:
No
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Epinions.com ID:
gopherm
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Location: Leonardtown, Maryland
Reviews written: 14
Trusted by: 3 members
About Me:
Now that the barn has burned down, I can see the stars.
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